How should I approach my landlord to buy?

bristol_pilot

This would be a lot of hassle for the LL and I believe the LL would need a special licence if the amount owed after accepting your deposit (effecticvely the amount 'lent') is more than £25,000.

It seems to me the proposed arrangement will involve a lot of hassle and legal expenses on both sides. There is nothing in it for the LL and the only thing in it for the tenant is not having to get a commercial mortgage (which is not that much of a benefit, seeing as they have a large deposit).

slyracoon

Its a stupid idea.

Get a mortgage or continue renting, you can't have it both ways.

theartfullodger

a) Do you pay rent less 22% (kept for HMRC) or does she have a written agreement with HMRC to be paid all the rent?? If she does not have the agreement from HMRC then you may find they want the 22% of the past rent for themselves for tax. HMRC can take legal action against you.

b) Do you have an address "to serve notices" that you can write to for her in England & Wales?? If not the rent is not due (!!)

c) Do you have a gas safety certificate??

Bermuda_John

you can a do an option purchase

you basically agree to pay x amount in x amount of years for the and put down the deposit as the cost of the option.

the benefit is this, if prices have gone down by a shed load you can chose not to exrecise the option and if they have gone up a load you are onto a winner.

Its a legal document and it requires legal representation on both sides, its an american thing but it has been done in England before.